I $hit you not. The business I worked for emailed an invoice to a client and some how in between sending the emailed invoice (as an attachment) and the client receiving/reading the invoice, the bank details were changed. The client deposited the money into the said account. Money gone.

Cyber police notified and the account is with a bank in NSW. Will the money be returned.? Who's to blame? Client is really pissed off. What insurance covers this $hit. Put the wind up me.

First time I have ever heard of this and actually find it hard to believe. So you are saying and email was intercepted and extracted travelling along the fibre optic highway, then changed and sent on its merry way to the intended recipient.
Okay has anybody else encountered this problem? Was in business many years never happened nor heard of it happening.

there are stray cosmic rays, strange things can happen. Maybe the message was corrupted, and there was no error checking. Goes to show anything important should automatically be error checked. It's not rocket science, a mathematical operation is performed on the message before it's sent, the resultant is then included at the end. The same thing is done on receipt and resultants checked.

Common scam going on.
In fact happened 3 times in the recent months in the current project I am working on.
It is public knowledge company "A" is buying gear from company "B"...someone gets in between with the ploy.

We think the clients computer was hacked and said hacker was reading the emails before the client did.. Then changed the attachment on the invoice email. We got a copy of the modified invoice and you can see it's been photoshopped (or something) but not at first glance.

Yes I have heard of this happening. THe MBIE was reporting that hackers are intercepting invoices en route to clients and altering the bank account numbers, then sending them on.

Not sure how you are supposed to avoid that kind of scam, unless you get on the phone to the company and double check the account number..... but who actually speaks to each other in the corporate world these days, it's all about the electronic letters

Wouldn't it be easier for them to change the account details in invoice program than intercepting an email or hacking the email app?

Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

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japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

I used to think I look a little unprofessional with my handwritten invoices.
I won't be changing my ways after reading this.

I'd be taking a long hard look at your secretary as the culprit.

Taking a long hard look at your secretary is sexual harassment nowadays isn't it? But I would still suspect an inside job at one end or the other.

Opening a bank account takes some serious ID, so fake ones would need ID theft as well and could only be one or two times before being shutdown.

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Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

Select to expand quote

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

It was a genuine question. Last time I opened
an account they insisted I supply quite a lot of ID.

Id be interested in knowing how one opens an account under a false name.

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japie said..

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

It was a genuine question. Last time I opened
an account they insisted I supply quite a lot of ID.

Id be interested in knowing how one opens an account under a false name.

I'd be interested too. They also want a bill to your physical address as well.

www.investec.com/en_gb/welcome-to-investec/news-and-views/insights/personal-finance/latest-fraud-scam.html

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Kamikuza said..

japie said..

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

It was a genuine question. Last time I opened
an account they insisted I supply quite a lot of ID.

Id be interested in knowing how one opens an account under a false name.

I'd be interested too. They also want a bill to your physical address as well.

By doing this: www.thisismoney.co.uk/money/beatthescammers/article-5809715/Why-banks-making-easy-fraudsters-open-accounts.html

Select to expand quote

Chris_M said..

Kamikuza said..

japie said..

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

Chris_M said..

japie said..
Surely if the money is being banked all they need to do is to locate the owners of the altered bank account into which it is being deposited?

Yeah, those fraudsters who definitely opened the account under their own name eh?

It was a genuine question. Last time I opened
an account they insisted I supply quite a lot of ID.

Id be interested in knowing how one opens an account under a false name.

I'd be interested too. They also want a bill to your physical address as well.

By doing this: www.thisismoney.co.uk/money/beatthescammers/article-5809715/Why-banks-making-easy-fraudsters-open-accounts.html

Isn't that just bloody typical. They make it nigh on impossible for the average honest citizen to open an account without jumping through hoops and yet it would appear that it is not that difficult a thing to achieve to open one under a false name.

That would be those blokes who sometimes post on here advertising false ID's..

Might have to get one!

The reason it's difficult for the honest citizen is because we're honest.

Honest won't work
Its about drive .
Education doesn't matter , please trust me .
Its about drive .